How to become an enterprising woman

Today, according to eMarketer, an online resource for Internet and e-business market research information, women show stronger interest than men in such areas as online communication, particularly email, health and travel content, online games, music and shopping. 'The Internet allows women to get more done in a shorter time; shop, plan trips, look for homes,' says Mary Hunt, New Media Catalyst, Interpret-Her. 'The Internet allows women to be social and pro-active at the same time.'

With growing female influence across the Internet, female e-entrepreneurship is one area that deserves particular attention. More and more women are embracing this area for two reasons: firstly, because there are multiple, great opportunities online, and secondly, because of the parenthood and family responsibilities that fall on their shoulders. 'There is no better option for UAE women than IT, because it offers them the freedom to work from home and requires minimum interaction with others', said Aisha Butti Bin Bishr, Department of Tourism and Commerce Marketing in Dubai.

Women have made extraordinary progress in the e-business world. Tejari.com is an excellent example. Since its launch in June 2000, Tejari (www.tejari.com) has become one of the fundamental drivers of B2B trading in the Middle East with more than $800m in an overall value of transactions. Under the dynamic leadership of its chief executive officer, Sheikha Lubna Al Qasimi, who has become a well know figure in the world of global e-marketplaces, Tejari records a growth rate in the number of online auctions of over 250% every year, witnesses over 1,000 online tenders every month and regularly experiences a monthly membership increase of between 100% and 150%. This is by far the Middle East's most successful e-marketplace, and is now growing faster than ever.

However, even taking into consideration that, there are more high earning women entrepreneurs today than ever before, there still seems to be a systematic gender bias towards women-owned businesses. That is largely based on stereotypes that women do not invest sufficient capital in their business or that they do not possess strong business skills and are not ready to accept risks.

These assumptions create significant barriers for those, who are willing to create substantial businesses of their own. 'Initially it was a very tough sell', recalls Eva Jeanbart Lorenzotti, the founder of the on-line luxury lifestyle catalogue Vivre. 'People said, 'You're a really nice little girl, but would you please go home'.

However, research shows that women-owned businesses are as financially sound and creditworthy as any other average business. And now Vivre has the list of 120 luxury partners, such as Cartier and Missoni, Burberry, Ferragamo and Cristofle, and the average customer of its 3 million-person circulation orders about $450 worth of luxury goods every time.

So here comes the question: what does it take for a woman to become a successful business leader?

First of all, you need an idea. Think what you would do, if you had all the money in the world, and did not have to work. Use the world around you as the constant source of fascination. Then, stay loyal to your idea and believe in yourself.

'You can always join the mainstream later. Go fulfill the idea you're most passionate about,' says Helen Greiner, co-founder and president of iRobot, which manufactures robots for industrial and consumer applications.

Greiner wanted to make robots from the age of eleven. So, after studying mechanical engineering and computer science, she co-founded iRobot at the age of twenty-three.

Starting your own business will probably be the most difficult 'job' you will ever have, so make sure you have enough self-confidence and determination to survive all the ups and downs of owning your own business. And the most important thing is to believe in yourself and your future success!

Robin Chase, founder of Zipcar, an online car rental company, said, that although she felt the skepticism of potential business partners when they realized she was a woman, she did not allow this to intimidate her. 'I always made it a point to fall back on skill and hard work. When they realized I knew the business inside out, it ceased to be an issue.'

Here comes the second principle: Plan carefully. Do your best to understand the industry and be realistic when assessing the potential of your future business. Do you think the business can grow? Who are your target customers? Do you know the industry?

Follow the advice of Kimberly Fulcher, a professional coach, author and speaker, whose professional experience includes the co-founding and $38 million dollar sale of SkillsVillage.com, and her leadership of a leading Silicon Valley consulting firm, where she grew revenues from $3M to $25M in four short years. 'I suggest you work in the field you plan to open a business in, to find out where your income will come from and to learn from other's mistakes. Learn what not to do in your own business. The best business owners are those who have invested learning time (about 2 years) in the field in which they eventually do business.' Her first book 'Self Care For SuperWomen' was released in early 2004.

Julie Aigner-Clark, the founder of Baby Einstein, the popular videos that entertain little ones with classical music, puppets, poetry, etc. and generate $20 million dollars in revenue, remembers her own experience: 'Everything I did in the first videos was based on my experience as a mom. I didn't do any research. I knew my baby. I knew what she liked to look at. I assumed that what my baby liked to look at, most other babies would, too. I drew the Baby Einstein logo myself. Everyone asks, 'How did you come up with the name?' The truth is, I just sat down and thought of it.'

The next crucial point is to build a network. Attend seminars and forums, start talking to people you think may play a role in your future business. Look for new, methods and approaches. Ask for the support of your family. Join an innovative platform for successful, cool business women to learn their secrets of success.

'One piece of advice I always give women who are serious about starting their own businesses: Surround yourself with people who believe in you and in your idea. It's critical. When you're second-guessing yourself about whether it's really a good idea, you don't need other people second-guessing you as well', said Clark.

There are organizations that can provide valuable links to the business leaders and professionals, investors and venture capitalists, who can be of tremendous help in the future. If you are thinking about owning your own business in the future, maybe it is high time to join one of them. Alternatively, participate in the Zayed University E-Biz Challenge competition, which will put you in contact with successful entrepreneurs and influential industry leaders in the region, and provide an understanding of the fundamentals of an e-business startup.

Finally: build your team. Don't despair if you don't possess strong management skills, technical knowledge, or an entrepreneurial experience - you can partner with someone. The ultimate success of any business is the success of the team behind it.

And at the very least, always take the good and the bad. Don't be afraid to make mistakes. But make sure you learn from your mistakes. And remember that starting your own business will provide you with valuable managerial experience, teach you how to persevere, concentrate, stay determined and develop an ability to face risks.
By the end of the day, if you really want to do something, then go and do it. In other words, if you want to start a business, you have to start a business!